Want to see JP:3904 full AI Analyst Report?
KAYAC, Inc. (3904) AI Stock Analysis
KAYAC, Inc.
(TSE/TYO:3904)
The score is driven primarily by improving fundamentals in 2025 (revenue and margin recovery, gross margin strength) but held back by uneven cash-flow conversion and less conservative leverage versus 2023. Technicals are neutral-to-slightly positive but capped by the stock trading below the 200-day average. Valuation is reasonable (P/E ~14) with only a modest dividend yield.
KAYAC, Inc. (3904) vs. iShares MSCI Japan ETF (EWJ)
- Market Cap
- JPY 6.13B
- Dividend Yield
- 0.98%
- Average Volume (3M)
- 14.45K
- Price to Earnings (P/E)
- 11.6
- Beta (1Y)
- 0.62
- Revenue Growth
- 20.33%
- EPS Growth
- 15.26%
- Country
- Japan
- Employees
- 618
- Sector
- Communication Services
- Sector Strength
- 60
- Industry
- Electronic Gaming & Multimedia
KAYAC, Inc. Business Overview & Revenue Model
Company Description
KAYAC Inc. is a Japanese company primarily focused on the gaming industry. It manages various platforms, including Lobi, a community for gamers, and Tonamel, a system that assists organizers with managing tournaments. The company also supports esport...
How the Company Makes Money
null
KAYAC, Inc. Financial Statement Overview
Summary
Financials show a recovery in 2025: revenue rebounded (+12.6% YoY) and profitability improved (net margin ~3.4% vs ~0.9% in 2024). Gross margin stayed healthy (~53–54%), but operating/net margins remain well below 2020–2022 levels. Balance sheet leverage is manageable (~0.56x debt-to-equity) but less conservative than 2023, and cash-flow consistency is a key weakness given the 2024 negative OCF/FCF followed by a rebound in 2025 (FCF only ~50% of net income).
Income Statement
66PositiveBalance Sheet
63PositiveCash Flow
52Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.48B | 20.09B | 16.73B | 17.47B | 16.50B | 12.57B |
| Gross Profit | 11.34B | 10.91B | 9.03B | 9.23B | 7.92B | 5.93B |
| EBITDA | 1.55B | 1.42B | 706.92M | 1.37B | 1.46B | 1.36B |
| Net Income | 540.39M | 683.92M | 149.05M | 511.18M | 779.84M | 828.84M |
Balance Sheet | ||||||
| Total Assets | 13.56B | 13.56B | 12.88B | 11.68B | 10.98B | 7.85B |
| Cash, Cash Equivalents and Short-Term Investments | 6.58B | 5.66B | 4.96B | 5.00B | 4.26B | 2.46B |
| Total Debt | 2.68B | 3.23B | 3.27B | 2.12B | 2.34B | 2.30B |
| Total Liabilities | 7.12B | 7.26B | 6.85B | 5.75B | 5.64B | 4.26B |
| Stockholders Equity | 5.93B | 5.80B | 5.56B | 5.46B | 4.86B | 3.31B |
Cash Flow | ||||||
| Free Cash Flow | 0 | 511.52M | -383.94M | 977.46M | 1.51B | 383.54M |
| Operating Cash Flow | 0 | 1.04B | -219.66M | 1.12B | 1.77B | 489.66M |
| Investing Cash Flow | 0 | 99.28M | -949.59M | -351.90M | -691.48M | 13.41M |
| Financing Cash Flow | 0 | -588.14M | 926.49M | -37.96M | 713.82M | -572.15M |
KAYAC, Inc. Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3904, the sentiment is Negative. The current price of 398.00 is below the 20-day moving average (MA) of 416.55, below the 50-day MA of 422.54, and below the 200-day MA of 436.52, indicating a bearish trend. The MACD of -5.29 indicates Positive momentum. The RSI at 31.79 is Neutral, neither overbought nor oversold. The STOCH value of 24.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3904.
KAYAC, Inc. Peers Comparison
Overall Rating
JP:391273Outperform
JP:391170Outperform
JP:472867Neutral
JP:379366Neutral- JP:390459Neutral
JP:417543Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| JP:3912 | 73Outperform | JPY 6.93B | 13.17 | 20.16% | 4.59% | 1.92% | -26.02% |
| JP:3911 | 70Outperform | JPY 10.09B | 8.43 | ― | ― | -20.04% | -54.97% |
| JP:4728 | 67Neutral | JPY 4.74B | 6.60 | ― | 4.00% | -4.82% | 186.71% |
| JP:3793 | 66Neutral | JPY 13.16B | 4.24 | ― | ― | 4.52% | ― |
| Sector * | 60Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
| JP:3904 | 59Neutral | JPY 6.41B | 11.60 | ― | 0.98% | 20.33% | 15.26% |
| JP:4175 | 43Neutral | JPY 15.84B | -20.30 | ― | ― | -1.75% | -617.20% |
* Communication Services Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| JP:3904 | KAYAC, Inc. | 398.00 | -28.73 | -6.73% | |
| JP:3912 | Mobile Factory, Inc. | 1067.00 | 114.87 | 12.06% | |
| JP:3793 | Drecom Co., Ltd. | 453.00 | -5.00 | -1.09% | |
| JP:3911 | Aiming, Inc. | 216.00 | -3.00 | -1.37% | |
| JP:4175 | coly Inc. | 2879.00 | 841.00 | 41.27% | |
| JP:4728 | Tose Co., Ltd. | 625.00 | 12.11 | 1.98% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 06, 2026